Business
GM plunges to $15.5bn loss
General Motors lost a towering $15.5bn in the second quarter as it was hammered by falling sales in its core North American market and a dramatic shift from big pick-up trucks and sport-utility vehicles to more fuel-efficient but less profitable cars.
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Banks Under Threat
Barclays dismisses San Marino lawsuit

Barclays Capital will fight vigorously a lawsuit filed against it in London’s High Court by a banking client Cassa di Risparmio di San Marino, which alleges misrepresentation by the UK investment bank in the sale of complex debt products.
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Wall Sreet Slumps

Wall StreetWall Street slumps into bear market territory

US stocks slumped decisively into bear market territory on Wednesday as investor sentiment buckled on concerns about the health of the financials sector and fears that slowing economic growth would hurt earnings at technology firms.
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Darling calls for pay restraint
Darling calls for pay restraint Chancellor Alistair Darling says pay rises for people "from the boardroom to the shopfloor" need to be "consistent" with the 2% inflation target.

He told BBC One's Andrew Marr show the need to keep inflation under control "applies to each and every one of us".

He said above-inflation pay increases would be "extremely damaging".

Mr Darling said the UK economy was "far better equipped" than in the 1970s, 1980s and 1990s...
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Europe split over oil price plan
Europe split over oil price plan European Union leaders have agreed to a 3-month study to find ways of cushioning the impact of soaring energy prices on the region's citizens...
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